U.S. Congress eyes private equity, hedge fund titans (Reuters)

[Eugene]

Source: Reuters

U.S. Congress eyes private equity, hedge fund titans
Wed Jul 11, 2007 1:30AM EDT

By Kevin Drawbaugh

WASHINGTON (Reuters) - The new kings of Wall Street -- as the
managers of booming private equity and hedge funds have been
dubbed in the business press -- will come under unaccustomed
scrutiny on Wednesday before the U.S. Congress.

In three separate hearings on Capitol Hill, lawmakers are expected
to ask whether these secretive and super-rich financiers pay enough
taxes and whether the Bush administration does enough to protect
the economy and investors from them.

A handful of bills have been filed in both the Senate and the House
of Representatives that would sharply raise tax rates paid by both
private equity and hedge fund leaders, many of whom are billionaires
but largely unknown to the public.

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Read more: http://www.reuters.com/article/ousiv/idUSN1037541320070711